Informist, Thursday, Oct. 31, 2024

MUMBAI – The weighted average lending rate on fresh rupee loans of scheduled commercial banks fell to 9.37% in September from 9.41% a month ago, the Reserve Bank of India said Thursday. The weighted average lending rates on fresh rupee loans of public sector banks fell 3 basis points from a month ago to 8.57%, while that of private sector banks rose 14 bps to 10.33%. The weighted average lending rate on fresh loans of foreign banks rose 6 bps on month to 9.41% in September.

The weighted average lending rate on outstanding rupee loans of scheduled commercial banks fell marginally to 9.90% in September from 9.91% in August. The one-year median marginal cost of fund-based lending rate of scheduled commercial banks was unchanged from a month ago at 8.95% in October, the RBI data showed.

The weighted average deposit rate on fresh rupee term deposits increased by 8 bps on month to 6.54% in September. The average rate on fresh rupee term deposits of public banks increased by 5 bps to 7.02% and private banks increased by 12 bps on month to 6.52% in September.

The weighted average rate on outstanding rupee term deposits rose 2 bps on month to 6.95% in September. End

Reported by Kshipra Petkar

Edited by Saji George Titus

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